Pure Storage, Inc. (NYSE:PSTG) Shares Sold by TT International Asset Management LTD

TT International Asset Management LTD lowered its stake in Pure Storage, Inc. (NYSE:PSTG - Free Report) by 20.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,338 shares of the technology company's stock after selling 9,062 shares during the period. TT International Asset Management LTD's holdings in Pure Storage were worth $1,564,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. World Investment Advisors raised its position in Pure Storage by 1.6% during the 4th quarter. World Investment Advisors now owns 9,635 shares of the technology company's stock worth $592,000 after buying an additional 150 shares during the last quarter. Peapack Gladstone Financial Corp lifted its holdings in shares of Pure Storage by 2.7% in the 4th quarter. Peapack Gladstone Financial Corp now owns 5,775 shares of the technology company's stock valued at $355,000 after buying an additional 150 shares during the period. HighPoint Advisor Group LLC grew its holdings in Pure Storage by 2.7% during the fourth quarter. HighPoint Advisor Group LLC now owns 5,885 shares of the technology company's stock worth $396,000 after acquiring an additional 157 shares during the period. Parallel Advisors LLC lifted its holdings in Pure Storage by 1.4% in the fourth quarter. Parallel Advisors LLC now owns 13,271 shares of the technology company's stock valued at $815,000 after acquiring an additional 186 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its position in Pure Storage by 55.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock worth $29,000 after purchasing an additional 233 shares in the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PSTG shares. Morgan Stanley lifted their price objective on shares of Pure Storage from $40.00 to $62.00 and gave the company an "equal weight" rating in a report on Tuesday, May 20th. Wall Street Zen raised shares of Pure Storage from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Evercore ISI lifted their target price on shares of Pure Storage from $60.00 to $70.00 and gave the company an "outperform" rating in a research report on Friday, May 23rd. Piper Sandler reaffirmed an "overweight" rating and issued a $66.00 price target (up from $53.00) on shares of Pure Storage in a research note on Thursday, May 29th. Finally, Barclays decreased their target price on Pure Storage from $61.00 to $57.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $69.95.

Pure Storage Trading Up 2.8%

PSTG traded up $1.50 on Tuesday, hitting $54.75. 2,826,817 shares of the company were exchanged, compared to its average volume of 2,938,290. The firm has a 50-day moving average price of $50.82 and a two-hundred day moving average price of $55.94. Pure Storage, Inc. has a twelve month low of $34.51 and a twelve month high of $73.67. The company has a market cap of $17.89 billion, a price-to-earnings ratio of 147.97, a price-to-earnings-growth ratio of 5.08 and a beta of 1.05.

Pure Storage (NYSE:PSTG - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The technology company reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.04. Pure Storage had a net margin of 3.93% and a return on equity of 13.98%. The company had revenue of $778.49 million during the quarter, compared to the consensus estimate of $770.03 million. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The firm's quarterly revenue was up 12.3% on a year-over-year basis. Equities analysts expect that Pure Storage, Inc. will post 0.44 EPS for the current year.

Insiders Place Their Bets

In related news, CRO Dan Fitzsimons sold 6,977 shares of Pure Storage stock in a transaction on Monday, April 21st. The shares were sold at an average price of $40.91, for a total transaction of $285,429.07. Following the sale, the executive now directly owns 90,223 shares in the company, valued at $3,691,022.93. This trade represents a 7.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Francis Murphy sold 11,234 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $55.13, for a total value of $619,330.42. Following the completion of the sale, the director now directly owns 21,930 shares of the company's stock, valued at $1,209,000.90. The trade was a 33.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 125,083 shares of company stock valued at $6,460,576 in the last ninety days. Insiders own 5.60% of the company's stock.

Pure Storage Profile

Pure Storage, Inc engages in the provision of data storage and management technologies, products, and services in the United States and internationally. Its Purity software is shared across its products and provides enterprise-class data services, such as always-on data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.